Friday, June 11, 2010

Fred Alger Management, Inc. has been awarded separate account mandates from the Plumbers and Steamfitters Local 486 Pension Fund and the Iron Workers Mid-South Pension Fund. Both clients will be utilizing Alger’s Capital Appreciation strategy. The portfolios will be managed by Patrick Kelly, CFA, Executive Vice President, along with the team of nearly 30 investment professionals at Alger.

New York (PRWEB) June 12, 2010 -- Fred Alger Management, Inc. is pleased to announce that it has been awarded two new separate account mandates from the Plumbers and Steamfitters Local 486 Pension Fund and the Iron Workers Mid-South Pension Fund. Both clients will be utilizing Alger’s Capital Appreciation strategy. The portfolios will be managed by Patrick Kelly, CFA, Executive Vice President, along with the team of nearly 30 investment professionals at Alger. Alger’s Portfolio Managers and Analysts utilize its time-tested philosophy of investing in companies undergoing Positive Dynamic Change, which has been in place since Alger was founded over 45 years ago.

“We are excited to have won these two mandates and welcome the Plumbers and Steamfitters Local 486 Pension Fund and the Iron Workers Mid-South Pension Fund to Alger,” said Dan Chung, CEO. “We believe that these appointments are an indication of the commitment Alger has made to the Institutional marketplace, the quality of our investment process and the deeply committed team of Alger investment professionals.

Based in Baltimore, MD, Plumbers and Steamfitters Local 486 represents nearly 2,000 union-trained plumbers and steamfitters, and is affiliated with the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry of the United States and Canada.

The Iron Workers Mid-South Pension Fund is a multi-employer defined benefit pension plan that provides benefits to participants across Louisiana, Mississippi and Oklahoma.

About Alger: Fred Alger Management, Inc. was founded in 1964 and currently manages more than $12 billion. Alger's investment philosophy is focused on discovering companies undergoing Positive Dynamic Change, which we believe offer the best investment opportunities. Alger investment strategies are available to institutional investors through separate accounts and mutual funds and to retail investors through Alger mutual funds. Fred Alger & Company, Incorporated, a broker-dealer and the parent company of Fred Alger Management, Inc. offers mutual funds as well as institutional funds for defined benefit and defined contribution plans. For more information, please visit www.alger.com.